Bailed-out bank reports $2bn loss

Bank of America reported a third-quarter loss today of more than US$2bn (€1.34bn) in a sign that the sector has yet to put the crisis firmly behind it.

Bailed-out bank reports $2bn loss
Fri, 16 Oct, 2009 - 16:46

Bank of America reported a third-quarter loss today of more than US$2bn (€1.34bn) in a sign that the sector has yet to put the crisis firmly behind it.

The second-largest US bank, which snapped up Merrill Lynch amid last autumn’s crisis, revealed mounting pain from loan defaults as consumers to continue struggle.

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